The US-listed LPG carrier owner said it sold 4.47m shares at $10.50 per share in an underwritten registered offering.
The shares were placed with institutional investors, in addition to entities affiliated with the family of StealthGas chief executive Harry Vafias.
Global Hunter Securities is acting as the sole underwriter for the offering.
StealthGas intends to use the proceeds of the offering for vessels acquisitions, capital expenditures and general corporate purposes.
It recently emerged as one of the best performing stocks in the year-to-date among the 35 shipping companies by RS Platou Markets.
In late March StealthGas took delivery of the first two of three 7,200-cbm LPG carrier newbuildings on order at Japan’s Kyokuyo Shipyard Corp.
